The Markets are up today, as the Indices re-test the Highs of last week on low Volume. Leaders are very Over-bought. The Reward / Risk ratio of investing now is poor, so we suggest staying in Cash. Several Stocks have pulled back into the Green Zones, and have Money Wave Buy Signals today … Please do not Buy then unless you are VERY NIMBLE, as they are still Way Above the Green Lines.
If the S&P 500 fails up here, it would normally correct back down to the Red Line (50-day avg.) to set up for a good bounce.
Money Wave Buys soon!
The Following Investments will probably have a Money Wave Buy Signal
(Slow Stochastic Closing > 20) on today’s Close.
CHK CHESAPEAKE ENERGY Buy Signal probably today, but Reward / Risk is poor.
ECA ENCANA CORP Buy Signal probably today, but Reward / Risk is poor.
KTOS KRATOS DEFENSE Buy Signal probably today, but Reward / Risk is poor.
SELLS
AKS Was Stopped Out on Friday at $10.38 for a 1 cent loss.
Exit CLF today if it Closes below $9.75.
ON DECK: BBY GGB NBR TECK VALE & VALE.P XME
Click for WATCH LIST
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Many like to buy the day before, if the Investment has not popped up too much.
Money Wave Buys are usually good for a 3-6 % move in a few days.
About 1/3 of the time, the Money Wave Buys will result small losses, so please use a Sell Stop Loss after all Buy orders.
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